The myanmar sustainable development plan msdp is the expression of our national development vision a vision that finds resonance in the global sustainable development agenda. Political and economic reform in myanmar council on. Industrial policy reform in myanmar harvard university. Myanmar could be come the next economic frontier in asia if, with appropriate reforms, it can turn its rich natural re sources, young. International business management etp shih chien university case number. Myanmar started on a road to fundamental political reform through a peaceful transfer of power in early 2016. The 20112015 myanmar political reforms were a series of political, economic and administrative reforms in myanmar undertaken by the militarybacked government. Despite a challenging global environment, myanmar s economic growth is expected to rise to 6.
Myanmars economic policy priorities carnegie endowment. United nations development programme myanmar project. In this special edition on myanmar reforms, issues related to external trade, exchange rate, finance, banking, business environment and potential economic strategies, which are vital components of the reform agenda and crucial for myanmar. After a recent wave of political, social, and economic reforms, myanmar s once isolated economy has opened to the rest of the world. Framework for economic and social reforms 11420 framework for economic and social reforms policy priorities for 201215 towards the longterm goals of the national comprehensive development plan executive summary overview as recently as 2011, myanmar was still labeled as a pariah state. These reforms include the release of prodemocracy leader aung san suu kyi from house arrest and subsequent dialogues with her, establishment of the national human rights commission. Myanmar s economy is slowly picking up speed and regaining stability after a volatile 2018. Myanmar has gone through a phase of unprecedented change since the november 2010 general elections. Political and economic reform in myanmar for decades, the southeast asian nation of myanmar formerly known as burma was an international pariah.
Military clashes between the burmese military and ethnic armies in kachin state, and the palaung taang and kokang areas complicate the situation. The past years have seen a dramatic increase of political and civil liberties and a significant reduction in armed conflict, although conflict continues in kachin and northern shan states. Ethnic minorities question the militarys commitment to bot h peace and the reform process. Economic reforms in myanmar institute of developing economies. Rapid economic reforms have taken place against a flurried backdrop of political reforms since.
Myanmars economy had undergone a reorientation toward a more outwardlooking thrust. The publication draws on available data reported by the government of myanmar and additional information collected as part of the world bank groups regular economic monitoring and policy dialogue. In this special edition on myanmar reforms, issues related to external trade, exchange rate, finance, banking, business environment and potential. The transition to nominally civilian rule under a new constitution was the first step in an ongoing sequence of rapid and farreaching political and economic reforms that have unleashed tremendous changes in the po litical and economic land scape. Abstract myanmar s economy is slowly picking up speed and regaining stability after a volatile 2018.
In august 2012, a group of senior csis asia specialists visited myanmar to explore the political, economic, and social reforms launched by the new civilian government and develop policy recommendations for the u. Economic reform and political change in myanmar burma. Currently, myanmar has myriad sectoral, ministerial and subnational plans. Financing incentivebased hilsa fisheries management in. Myanmar has been exporting primary products with low price, and importing manufactured and. Myanmars government unveils a 238point economic reform plan. But it is better at announcing policies than implementing them. Myanmar s gross domestic product gdp is expected to grow by 6. Genuine development will only come to myanmar if, and only if, all. Before 1963, myanmar s banking system was the envy of asia.
Fesr emphasizes the critical importance of policies to open up the myanmar economy. Myanmars economic reform and development institute for. Over the past four years, myanmar burma has undergone rapid political and economic reform. Beginning in 2011, myanmar launched major political and economic reforms aimed at increasing openness, empowerment, and inclusion. Aung san suu kyi has been released from house arrest, and the country has liberalized the media. Burmese daze myanmar s government unveils a 238point economic reform plan. With 189 member countries, staff from more than 170 countries, and offices in over locations, the world bank group is a unique global partnership. Myanmar s wideranging political, social and economic reforms aimed at its reintegration into the global economy following five decades of isolation and consequent economic stagnation. There is no technical reason why myanmar cannot achieve a gdp growth rate of 8 percent a year or. These have stimulated economic growth and led to a restructuring of the economy, with improved social indicators and rule of law. Adb operations in myanmar address the strategic areas of infrastructure connectivity, human capital and skills development, and structural and institutional reform to improve the inclusiveness of the countrys economic growth.
Myanmar s economy, based on the kyat the national currency, is one of the least developed of the region and is basically agricultural. Much of the population is engaged directly in agricultural pursuits. Of those who are employed in other sectors of the economy, many are indirectly involved in agriculture through such activities as transporting. Political transition and economic reconstruction are deeply entwined in myanmar, and the government, the countrys elites and the international community must embrace both for the dramatic reforms underway to succeed. This paper presents broad outlines of a reform strategy to. Official pdf, 86 pages world bank documents world bank group. Myanmar has embarked on an ambitious program of sweep ing reforms to end its isolation and integrate its economy with the global system. Policy challenges in implementing national development plans. The new government inherited a dysfunctional economy. The myanmar economic monitor is a biannual analysis of economic developments, economic prospects and policy priorities in myanmar.
They provide a starting point to identify elements of a financial sector reform strategy for myanmar, together with how to sequence these reforms and manage their possible interaction with reforms in other parts of the economy. The political and economic challenges of myanmar s future now, according to headlines from the west, little or nothing seems right. What was supposed to be a peaceful protest march last week over a proposed new education law turned ugly after myanmar s police clashed with student protesters, monks and journalists. The lack of a clear campaign agenda for myanmar s national league for democracy in the 2015 elections has slowed the subsequent reform process. Myanmar summary of the mediumterm development plan. The political and economic challenges of myanmars future. Myanmar s economy as president thein sein and his reform minded administration approach the end of their first term, the countrys first phase of economic growth seems to be nearing its peak. But with some changes now underway, the international community should remain patient. This economic reform assessment summary provides the background to the identification of issues, constraints, and threats to, as well as the governments priority reforms in support of achieving inclusive growth. Over time, the economy will enter a virtuous circle of reform and growth, and myanmar s future will become decidedly more promising. Developing myanmar s finance sector to support rapid, inclusive, and sustainable economic growth the financial sector is the lifeblood of any economy and its smooth and efficient functioning is central to strong economic growth and development.
The political economy of myanmars transition lee jones school of politics and international relations, queen mary, university of london, london, uk abstract since holding elections in 2010, myanmar has transitioned from a direct military dictatorship to a formally democratic system and has embarked on a period of rapid economic reform. Liberalization of trade and foreign investment is an integral part of these economic reforms. The government has initiated wideranging economic, social, and governance reforms. Myanmar economic reforms, trade, finance, banking, exchange rate. Ruled by a brutal military dictatorship since the 1960s, political dissent was not tolerated, the press was tightly controlled, and opposition parties were shut down. Box 1 important dates in myanmar s postindependence history box 2 the open government partnership. Accession process and declaration box 3 the centre of government functions box 4 framework for economic and social reforms box 5 nay pyi taw accord for effective development cooperation. These chapters cover a wide range of issues important to the success of economic reforms and what. Balanced economic growth, social development and better statistics although myanmar has a history of national and sector development plans, it has introduced new medium and longterm planning tools with its liberalising reforms. Myanmar initiated a series of gradual and radical changes of economic reforms since 2011 aimed at comprehensive economic development. Myanmars new economic and political reforms have drawn considerable.
Framework for economic and social reforms faircap partners. Over the last five years 20112015 myanmar has been engaged in a process of political and economic liberalization that will transform the countrys economy and society and see the nation emerge as an important economic entity in asean and the wider regional and global economy. Published by iied, march 2020 peter silvester, annabelle bladon, michael akester, khin maung. Since the reopening of the myanmar economy in 2011, the country has undergone significant economic and legislative reforms and political transformation. Five weeks after confirming its first covid19 case. Myanmars economy had undergone a reorientation toward a more outward looking thrust.
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